Reporting Period for From 8938 when filing married taxpayers jointly

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
cakik55
Posts: 13
Joined: Wed Mar 30, 2022 10:59 pm

Reporting Period for From 8938 when filing married taxpayers jointly

Post by cakik55 »

Hi,

My husband and I are filling out Form 8938 for 2021 now. My husband is a US citizen and I moved to US with a green card on Jun 06, 2021.
We are going to file the tax return jointly.
In the instruction for Form 8938, we found this description.

"Exception for Partial Tax Years of Specified Individuals
If you are a specified individual for less than the entire tax year, the reporting period is the part of the year that you are a specified individual."

Does this mean we only need to report my Specified Foreign Financial Assets (these are owned by only myself) for the period after I moved to US (Jun 06 to Dec 31, 2021) or since we are going to file jointly, we need to report their values for the entire 2021?
Top
Post Reply

Return to “Canada / United States Tax & Accounting”